Rental Financing news

August 10, 2018
BOSTON --- MHP used its private bank financing and other capital resources in Fiscal Year 2018 to preserve long-established affordable housing in some of Boston’s priciest neighborhoods while also making long-term permanent loans to support the city’s efforts to add affordable housing on vacant or underutilized properties.

ONE Mortgage news

August 9, 2018
At a recent Boston Home Center event, Mark D. Roberts, aka Mr. Real Estate, was nice enough to shoot some video of MHP's Jake Interrante on why ONE Mortgage is the best and most affordable mortgage program for first-time buyers. Check out this ONE minute video.

The Massachusetts Housing Partnership (MHP)

A statewide public nonprofit affordable housing organization that works in
concert with the Governor and the state Department of Housing and Community
Development (DHCD) to help increase the supply of affordable housing in
Massachusetts.

MHP names Cynthia Mohammed Director of Portfolio Management

Posted on August 7, 2018

BOSTON --- The Massachusetts Housing Partnership (MHP) has named Cynthia Mohammed Director of Portfolio Management. She will be responsible for overseeing MHP’s growing portfolio of multi-familly loans for affordable housing.

Mohammed joined MHP in 1998 as a portfolio analyst and has risen steadily throughout her career. Since 2016, she has served as portfolio management’s deputy director. She will oversee a strong and diverse multifamily portfolio that totals $849 million today and is expected to surpass $1 billion in the next few years.

Prior to MHP, Mohammed was an associate in the audit group at Pricewaterhouse Coopers LLP, where she worked for a variety of public, private and nonprofit clients. She has a bachelor's degree in public policy from Brown University and has also done graduate work in accounting at USC.

“Cynthia has successfully managed the most complicated loans in MHP’s portfolio, and she is an expert in tracking and monitoring the costs associated with operating affordable multifamily rental developments and in providing insights that help these properties perform efficiently for owners and residents,” said Mark Curtiss, MHP’s managing director. “She has the respect of her team and we are excited to have her in charge as our portfolio of multifamily loans grows to over $1 billion.”

Mohammed replaces Geoff MacAdie, who has been MHP’s director of portfolio management since 2004. MacAdie will remain at MHP as a senior advisor and senior portfolio manager.

“During Geoff’s tenure as director, our servicing portfolio has grown from $153 million to almost $850 million and our percentage of problems loans have dropped from five percent to 2.1 percent, with no loan losses in the history of the portfolio” said Curtiss. “Thanks to his capable leadership and the work of his team, Cynthia is taking over a strong and diverse portfolio.”

About MHP: MHP uses bank lines of credit and other capital funding to provide long-term loans for affordable rental housing. Since 1990, MHP has provided over $1.2 billion in loans and commitments for the financing of over 25,000 units of rental housing. MHP also helps communities, housing authorities and non-profits create affordable housing and has provided technical assistance in over 300 Massachusetts communities. MHP's homeownership programs - formerly SoftSecond and now ONE Mortgage - have helped over 20,300 low- and moderate-income families purchase their first home. In 2017, MHP launched its Center for Housing Data to strengthen its operations and support new state policies to increase housing production.